Leaseholder - Hounslow Homes

team have now mapped infine detail how a number ofkey processes work at present,including the major worksprocess. We then movedon to redesign how we doSection 20 requests using somecontracts for forthcoming majorworks projects. We have nowsimplified our Consultationletter and produced additionalexplanatory notes forleaseholders. We also workedclosely with colleagues inProperty Services to improveinformation flow within projectsto reduce unnecessary delay orduplication of effort.Sue explains, “We havemoved on to review our incomerecovery process, looking atall aspects of the productionof arrears letters and paymentoptions.“Encouraged by the progressand the evidence that changeis on the wind, the Forum wenton to talk about the problemsfor leaseholders in managingtheir personal budgets inthe face of large bills formajor works. The possibilityof establishing a “ReserveFund” was explored, whichwould give five year’s notice ofplanned major works, and giveleaseholders a rolling five yearsto save up-front with regularmonthly payments into thefund, administered on behalfof groups of leaseholders byHounslow Homes. The fundshave to be kept in a specialinterest-bearing account andare used to pay off the billwhen works are completed.The Forum felt this idea hada lot going for it and it wasagreed to consult leaseholderson the idea. So tell us whatyou think by using one of themethods at the bottom of thepage.The members of the Forumwere invited to attend theSystems Thinking office to seehow the project is progressing.Reserve Funds – what do you think?The Leasehold Forum is considering makinga recommendation to Hounslow Homes tointroduce a system of Reserve Funds to managethe cost of major works projects. They want toknow your views first.Here is how it would work: if HounslowHomes has identified major works needed inthe next 5 years, that affect your home and youare liable for paying a share of the costs, youwill be notified of the nature of the works andthe estimated cost of the contract. A ReserveFund would then be set up, and all affectedleaseholders would start to pay their total shareof the cost, in monthly instalments for the periodup until works are completed.Our statutory consultation following Section20 would be undertaken as normal and yourcomments would be taken into account, beforeany contract is agreed.The fund will be held in trust for theleaseholders and interest would be paid to theaccount; when the relevant contract worksare completed, any adjustments are made tothe final invoice and the invoice is settled bytransferring the savings from the Reserve Fund,once the leaseholders have agreed to release thefunds. Your rights to contest an invoice or haveyour concerns about the quality of work are notaffected by this arrangement.Have your sayTo give your views on the Reserve Fund Proposal, tell us if you support/do not support the proposal,and together with any other comments, your name, address and phone number send to us:• By post – to Roz Spencer, Hounslow Homes, St. Catherine’s House, 2 Hanworth Road, FelthamTW14 5AB.• By e-mail – You can e-mail the details to: home.ownership@hounslowhomes.org.uk• Online – you also can give us your views online by visiting:www.hounslowhomes.org.uk/index/home_ownership/reserve_fundand completing the online form.All feedback must be received by 30/04/2013.